The Europe Specialty Polystyrene Resins market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Specialty polystyrene resins has a wide range of properties that makes it an ideal candidate for its use in various industries. It exhibits good film stiffness, decent water resistance, fast air dry, well-adjusted to deprived elasticity. Specialty polystyrene is used as for smoothing sealers, as a spray in coatings and primers, furniture and flat-board surfaces, among others. These are the major factors expected to drive the market. Moreover, polystyrene resin provides physical and mechanical forte in the packaging application. It is also considered to be the most versatile type of polymer foam which further raises the demand for polystyrene resins. However, the varying strategies of prominent corporations, fluctuating prices of raw materials diminishes the growth of market.

Healthcare and Automotive Boosts the Demand for Specialty Polystyrene Resins

Healthcare sector is one of the growing end user for specialty polystyrene resins especially for medical packaging as it protects the product, and provides greater degree of safety. Stiffness, transparency, resistance to heat and superior rigidity are the feature exhibited by resins. Properties that assistant medical device solicitations include chemical resistance to fight against infections, sterilization constancy, biocompatibility which makes it an ultimate for medical industry. The Such polymers are also used in automotive industries to make different vehicle hardware parts such as door panels, dashboards, flooring and engine components. It further helps to reduce the weight and vehicles and mends the fuel effectiveness. Automotive industry is experiencing a tremendous growth as the industry relies heavily on coatings to protect the critical components of vehicles. It protects the plastic and metal component from corrosion. Increase in demand for vehicles and two wheelers further accelerates the growth of automotive segment.

Germany accounted for the largest revenue share of XX% in the market followed by Italy and France. Packaging contributed to the largest application for specialty polystyrene resins, thereby escalating the market growth in this region.

Various tactics such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others are adopted by key market players to increase their footprints in this market. For instance, In June 2018, BASFF SE announced the expansion of “Neopor”, their expandable polystyrene containing graphite. This expansion is a result of increased demand for the product from various regions of the world. The expansion is expected to increase by 40,000 metric tons annually at the two production sites in Ludwigshafen, Germany and Ulsan, Korea.

Key Findings of the Report:

Europe Specialty Polystyrene Resins market expanding at significant CAGR over 2019 to 2025 due to adoption of green chemistry in organic synthesis.

Based on end user, healthcare segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period

Players focusing on innovation of newer products and collaboration strategies to retain market position in Europe Specialty Polystyrene Resins market

The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

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